Craigard Secures Quality Office Acquisition In The Heart Of Southampton
Mar , 12
Craigard Concludes 2020 with two Profitable Sales
Yet again Craigard has demonstrated an astute ability to pick winners with the sale of its St Albans warehouse investment only two years after purchase.
The sale, worth £3.75million, has been completed to Clipstone Investment Management Ltd at a net initial yield of approx 4.5%. Initially purchased in November 2018 as a sale and leaseback from the owner-occupier, Craigard recognised the opportunities this property would present. “The unit is in a highly sought-after location and has fantastic transport links to the M25,” comments David Foster. “It was clear to us that, despite the initial title and management complexities that we worked through at the time of the purchase, this site ticked all the boxes we’d look for in an investment. We then saw a significant favourable yield shift in this market sector so undertook a review of our business plan and sought investor views on an early sale ahead of the next lease event. Thanks to the support of the syndication behind it, we’ve managed to return them around 50% capital profit in a two year period. A great result again and a happy group of investors.”
In addition to the capital profit, the site also gave a 5% return to investors during the hold period. DTRE and Molyneux Rose acted for Craigard
